ArcelorMittalTemirtau JSC to spend over KZT 1.7 bln for social projects implementation in Karaganda region

In accordance with the Memorandum, the Company will invest more than KZT 1.7 bln in implementation of the social projects in the region.

"This is a very important document demonstrating social responsibility of business. The memorandums are, first of all, additional resources in development of social infrastructure of the region. The total cost of the document makes over KZT 1.7 bln", S. Akhmetov said and thanked the Company for participation in solution of the region's social problems.

"These funds will be spent for implementation of several social projects in the towns where the Company works - Temirtau, Saran, Abai', the Governor said. "Besides, ArcelorMittalTemirtau will allot KZT 100 mln to Karazhal town for building and drilling three wells of Ashyly water intake, solution of the problems in the utilities sector and town landscaping", he added.

In compliance with the document, the Company will continue supporting the veterans of the Great Patriotic War, disabled people and sportsmen.

According to S. Akhmetov, the Company fully performed its obligations within the last year's memorandum. "20 social projects worth about KZT 1.6 bln were realized in 2010 at the Company's expenses", he said.

"ArcelorMittalTemirtau will continue participating in implementation of social projects", Director General of the Company Frank Pannier noted. "We are imposed huge responsibility before the residents of the towns and areas where our enterprises are functioning. For the past four years we have been entering into memorandums with the region's authorities which help us establish closer relations with the local people. It has already become a good tradition", he stressed.

In four years ArcelorMittalTemirtau has invested about KZT 6 bln in development of the region's social sphere.